SUNCORP GROUP LIMITED — Capital/Financing Update 2009

Jun 29, 2009

30 June 2009

SUNCORP ANNOUNCES SUBORDINATED DEBT BUY-BACK RESULTS

Suncorp-Metway Limited (‘Suncorp’) last night announced it had accepted offers to repurchase around A$405 million of subordinated debt across eight of its issues for a price of around A$310 million.

Noteholders were invited to apply on 16 June 2009. All non-competitive and minimum price offers were accepted with no requirement to pro-ration.

Following completion of the transaction, Suncorp’s capital ratios will continue to be well ahead of internal targets and regulatory minimums.

Settlement, including finalisation of the transaction costs and swap gains/losses, is expected on 3 July 2009.

ENDS

For more information, analysts / investors should contact: Mark Ley on 07 3835 5639

Media should contact: Jamin Smith on 07 3835 5183

This is not an invitation or offer for securities. No invitation is made to any United States or Italian person or to any person resident and/or located in the United States or Italy.